Reported 10 months ago
Backpack Exchange, founded by former employees of FTX and Alameda Research, has acquired the failed FTX EU for $32.7 million to enhance its derivatives trading. The acquisition includes responsibility for distributing around €53 million in approved bankruptcy claims to FTX EU customers. CEO Armani Ferrante emphasized that returning customer funds is the top priority before any trading resumes in the EU, signaling a renewed focus on regulated crypto products in Europe.
Source: YAHOO